BRASILIA: A Brazilian tax auditing court ruled state-controlled oil company Petrobras should be charged 1.5 billion Reais ($484.3 million) in taxes over profits of a Netherlands-based subsidiary, the company said in a Wednesday securities filing.
The so-called CARF court argues Petróleo Brasileiro SA, as the firm is known, failed to include the subsidiary when calculating its 2009 income taxes, as well as separate tax on net profits. Petrobras has not yet been formally notified of the decision and may choose to appeal, according to the filing.
